Gain on the Sale of the HERE Business
|
|
|
EURm |
|
Fair value of sales proceeds less costs to sell(1) |
|
2 551 |
|
Net assets disposed of |
|
(2 667) |
|
Total |
|
(116) |
|
Foreign exchange differences reclassified from other comprehensive income(2) |
|
1 174 |
|
Gain before tax |
|
1 058 |
|
Income tax benefit(3) |
|
120 |
|
Total gain |
|
1 178 |
|
(1) |
Comprises purchase price of EUR 2 800 million, offset by adjustments for certain defined liabilities of EUR 249 million. |
|
(2) |
Includes cumulative translation differences for the duration of ownership from translation of mainly U.S. dollar denominated balances into euro. |
|
(3) |
The disposal was largely tax exempt, the tax benefit is due to hedging-related tax deductible losses. |
Assets and liabilities, HERE business
Assets and liabilities disposed of as of December 4, 2015:
|
EURm |
|
December 4, 2015 |
|
Goodwill and other intangible assets |
|
2 722 |
|
Property, plant and equipment |
|
115 |
|
Deferred tax assets and non-current assets |
|
151 |
|
Inventories |
|
14 |
|
Trade and other receivables |
|
174 |
|
Prepaid expenses and other current assets |
|
87 |
|
Cash and cash equivalents and current available-for-sale investments, liquid assets |
|
56 |
|
Total assets |
|
3 319 |
|
Deferred tax liabilities and other liabilities |
|
286 |
|
Trade and other payables |
|
55 |
|
Deferred income and accrued expenses |
|
306 |
|
Provisions |
|
5 |
|
Total liabilities |
|
652 |
|
Net assets disposed of |
|
2 667 |